March 19, 2020 / 10:28 AM / 12 days ago

Czech union chief says coronavirus crisis lasting 3 months can cause 5-8% GDP drop; cost 400,000-450,000 jobs

PRAGUE, March 19 (Reuters) - A coronavirus crisis lasting three months would cause a 5-8% drop in Czech economic output and lead to 400,000-450,000 job losses, Josef Stredula, chief of the country’s main union group CMKOS, said on Thursday.

Stredula said he expected the economy to grind to a halt in 10-14 days following closures of car plants in the country that heavily depends on car manufacturing and exports. (Reporting by Robert Muller Writing by Jan Lopatka; Editing by Toby Chopra)

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